UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 81,256 Shares of Trane Technologies plc $TT

Key Points

• UBS Asset Management increased its stake in Trane Technologies plc by 3.5%, acquiring an additional 81,256 shares, bringing its total to 2,400,543 shares valued at approximately $808.8 million.
• Analyst ratings show mixed sentiments for Trane Technologies, with five analysts rating it as a Buy, ten as Hold, and one as Sell, giving it a consensus target price of $458.60.
• Trane Technologies reported a quarterly earnings per share of $3.88, beating estimates and showing a 7.6% increase in revenue year-over-year despite falling short of revenue expectations.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Trane Technologies plc (NYSE:TT - Free Report) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,400,543 shares of the company's stock after purchasing an additional 81,256 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.08% of Trane Technologies worth $808,791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Csenge Advisory Group raised its holdings in Trane Technologies by 0.6% during the 1st quarter. Csenge Advisory Group now owns 3,944 shares of the company's stock worth $1,314,000 after purchasing an additional 25 shares during the last quarter. Fiera Capital Corp grew its position in Trane Technologies by 1.4% in the 1st quarter. Fiera Capital Corp now owns 1,930 shares of the company's stock valued at $650,000 after purchasing an additional 27 shares during the period. Bingham Private Wealth LLC grew its position in Trane Technologies by 3.2% in the 1st quarter. Bingham Private Wealth LLC now owns 944 shares of the company's stock valued at $318,000 after purchasing an additional 29 shares during the period. Tradewinds Capital Management LLC grew its position in Trane Technologies by 46.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 95 shares of the company's stock valued at $32,000 after purchasing an additional 30 shares during the period. Finally, Smith Group Asset Management LLC boosted its holdings in Trane Technologies by 1.2% during the 1st quarter. Smith Group Asset Management LLC now owns 2,610 shares of the company's stock worth $879,000 after acquiring an additional 30 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TT shares. Barclays lifted their price objective on shares of Trane Technologies from $480.00 to $495.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group upped their price target on Trane Technologies from $500.00 to $544.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company boosted their price objective on Trane Technologies from $370.00 to $410.00 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. HSBC lowered Trane Technologies from a "buy" rating to a "hold" rating and upped their target price for the stock from $415.00 to $460.00 in a research note on Thursday, July 31st. Finally, Northcoast Research lowered Trane Technologies from a "buy" rating to a "neutral" rating in a research note on Friday, August 1st. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $458.60.

Trane Technologies Trading Up 0.3%

NYSE TT opened at $414.89 on Tuesday. Trane Technologies plc has a 12 month low of $298.15 and a 12 month high of $476.18. The stock has a market cap of $92.32 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.58 and a beta of 1.10. The stock's fifty day moving average price is $433.57 and its 200-day moving average price is $398.43. The company has a current ratio of 1.10, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50.

Trane Technologies (NYSE:TT - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.79 by $0.09. Trane Technologies had a return on equity of 36.61% and a net margin of 13.76%.The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same period last year, the firm posted $3.30 earnings per share. Trane Technologies's revenue was up 7.6% compared to the same quarter last year. Trane Technologies has set its FY 2025 guidance at 13.050-13.050 EPS. As a group, equities analysts forecast that Trane Technologies plc will post 12.83 EPS for the current fiscal year.

Insider Transactions at Trane Technologies

In other Trane Technologies news, CEO David S. Regnery sold 22,497 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $410.00, for a total value of $9,223,770.00. Following the transaction, the chief executive officer directly owned 123,713 shares of the company's stock, valued at approximately $50,722,330. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.

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